Damage Covered by Insurance. Subject to the provisions in Section 16.5 (Early Termination Due to Force Majeure Event) and any Trustees Consent and Estoppel Certificate if during the Term the System is wholly or partially destroyed or damaged by an event covered by insurance or required to be covered by insurance under this Agreement, the Licensee shall use the proceeds of such insurance to restore the System to its original capacity. If Licensee determines that it is not economically feasible to restore the System after such loss event, Licensee shall give Trustees written notice of such determination as soon as practical. In that case and subject to the terms of any Trustees Consent and Estoppel Certificate, the Agreement shall be terminated and the insurance proceeds shall be paid in the following order of interest:
Appears in 4 contracts
Samples: License and Services Agreement, License and Services Agreement, License and Services Agreement
